Rupee recovers 34 paisas against dollar
KARACHI: The rupee made a recovery of 34 paisas against the dollar on Friday, as measures taken by the State Bank of Pakistan (SBP) discouraged the demand for import payments, dealers said.
The exchange rate ended at Rs170.53 against the greenback from the previous day’s closing of Rs170.87 in the interbank foreign exchange market.
The dealers said the measures taken by the central bank helped reduce the dollar demand for import payments.
During the last couple of weeks, the central bank introduced measures to discourage the demand for the dollars for import payments and stop outflows of the foreign currency.
The dollar hit an all-time high of Rs170.96 on October 6, 2021. The local currency is witnessing a continuous decline since the start of the current fiscal year. So far, the local unit fell Rs13 against the dollar, compared with the closing of Rs157.54 on June 30, 2021.
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